Financial Institutions

Hurricane Helene
Statement Regarding Tennessee Banks and Credit Unions Affected by Hurricane Helene

The Tennessee Department of Financial Institutions (TDFI)

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News
COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JUNE 10, 2025
Tuesday, June 10, 2025 | 09:23am

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.50 percent as published by the Federal Reserve on June 9, 2025.

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News
COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE MAY 6, 2025
Tuesday, May 06, 2025 | 08:46am

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.50 percent as published by the Federal Reserve on May 5, 2025.

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